Pending
$650,000
12 bd · 6 ba · 6,013 sqft · 0.50 acre lot
265 Washington St, Norwich, CT 06360
Multi-family · Built 1860 · $108/sqft ·
$3,940/mo est. payment
Flood factor 1/10
About this home
Fully occupied 6-unit multifamily investment opportunity offering strong in-place cash flow and substantial embedded rental upside. The property consists of four 2-bedroom units, one 3-bedroom unit, and one 1-bedroom unit, currently generating $74,400 in annual gross income with a projected stabilized income of approximately $119,400 based on market rents. At stabilization, the asset supports a projected NOI exceeding $77,000, equating to a 9.69% cap rate and a 14.79% projected return on investment. Investors will appreciate the opportunity to significantly increase revenue through lease turnover and rent normalization rather than extensive renovations. All utilities, including electric and hot water, are separately metered and paid by tenants, with ownership responsible only for heat. Additional features include off-street parking, public water and sewer, and over 6,000 square feet of living area situated on a 0.50-acre lot. A compelling opportunity to acquire a scalable multifamily asset with strong income growth potential in one of Connecticut's most active rental markets.
Facts and features
Bedrooms
- Bedrooms: 12
Other Rooms
- Total Rooms: 30
- Basement Features: Full
Bathrooms
- Total Bathrooms: 6
- Full Bathrooms: 6
Heating and Cooling
- Cooling Features: Window Unit
- Heating Features: Steam
- Heating Fuel: Natural Gas
- Number of Fireplaces: 0
- Water Heaters: Upright Tank
Land Info
- Lot Description: Level Lot, Historic District
- Lot Size Acres: 0.5
- Lot Size Source: Public Records
- Lot Size Square Feet: 21780
Garage and Parking
- Driveway: Gravel
- Garage Description: Driveway
- Parking Total: 6
School Information
- Elementary School: Samuel Huntington
- High School: Norwich Free Academy
Multi-Unit Info
- Number of Units In Community: 6
Schools
- 5
Kelly Middle School
middle · 6-8 · 0.6 mi
- 2
Samuel Huntington School
elementary · K-5 · 1.1 mi
Stoneview Children's University
elementary · K-3 · 0.1 mi
- 4
Norwich Free Academy
high · 9-12 · 0.3 mi
St Patrick Cathedral School
elementary · K-8 · 0.7 mi
- 6
Norwich Technical High School
high · 9-12 · 0.8 mi
Price history
- Sep 10, 2026 · Listed$650,000
- Sep 10, 2026 · Listing Removed—
- Jul 30, 2026 · Listing Removed—
- Jul 29, 2026 · Listed$695,000
- Jun 23, 2026 · Listed$795,000
- Apr 25, 2016 · Sold$77,500
- Jul 15, 2003 · Sold$115,000
Tax history
- 2026$7,636 tax · $223,600 assessed
- 2023$5,679 tax · $135,700 assessed
- 2022$5,724 tax · $135,700 assessed
- 2021$5,747 tax · $135,700 assessed
- 2020$5,751 tax · $135,700 assessed
- 2019$5,515 tax · $135,700 assessed
- 2018$8,960 tax · $216,100 assessed
- 2017$8,789 tax · $216,100 assessed
Where it is
Listed by Christian Martinez · VC Property Group, LLC · SMARTMLS
